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Gastric Electrical Stimulators Market By Product (Low Frequency Gastric Stimulators and High Frequency Gastric Stimulators), By Indication (Gastroparesis and Obesity) - Growth, Future Prospects & Competitive Analysis, 2019 - 2027

Industry Outlook

The gastric electrical stimulators market is set to grow from US$ 108.3 million in 2018 to US$ 192.2 million by 2027 at a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2019 to 2027. Gastric electrical stimulators are small devices that are operated by battery and promote neurostimulation in the abdominal region via lead electrodes for the treatment of gastroparesis. They are also used in treating obesity by modulating appetite and satiety in obese people, resulting in weight loss. The existence of a few players in the market provides a potential platform for other medical device companies to enter the gastric electrical stimulators market.

Excellent clinical outcomes during gastroparesis treatment and longer battery life together drive the demand for high-frequency gastric stimulators.

High-frequency gastric stimulators are spearheading the market. The chief parameters responsible for its positive market growth are excellent clinical outcomes during gastroparesis treatment, such as reducing the severity of nausea and vomiting and longer battery life. Low-frequency gastric stimulators are usually employed as external stimulators in the serosa region of the stomach at three cycles per minute to increase the amplitude of gastric slow waves and thereby improve gastric emptying time in diabetic and elderly patients.

Rising prevalence of diabetes worldwide will cause a significant rise in people suffering from gastroparesis.

Gastroparesis is leading the indication segment for the gastric electrical stimulators market. Gastroparesis is delayed gastric emptying primarily caused by underlying factors such as diabetes, gastric ulcers, junk food consumption, old age, etc. The rising prevalence of diabetes and the significant rise in the elderly population worldwide will rapidly increase the number of people encountering gastroparesis clinical manifestations. Obesity is on the rise in children and adults primarily due to increased consumption of fast food, a sedentary lifestyle, stress, etc.

Rising prevalence of gastroparesis and inclination towards consumption of junk food will drive market growth in North America.

North America is considered the clear leader in the global and regional segment of the gastric electrical stimulators market. It represents a market share of 42.5% due to the positive impact of major factors such as the rising prevalence of gastrointestinal disorders.

As per the research cited and presented in a research journal of Wolters Kluwer, the prevalence rate of gastroparesis in type 1 diabetes, type 2 diabetes, and idiopathic diabetes in the United States is 16.8%, 14.0%, and 13.2%, respectively. A significant rise in the inclination to consume junk food further delays gastric emptying and provides a lucrative market opportunity for gastric electrical stimulators.

Europe holds a market share of 35.2% on account of the rising prevalence of obesity in people of all age groups. Strategic agreement and collaboration between medical device manufacturers and clinical research institute to develop novel gastric stimulation devices to treat gastroparesis and obesity. Asia Pacific is accountable for 15.7% of the market share, chiefly due to rising public health awareness regarding gastrointestinal disorders and developing healthcare infrastructure.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The market is segmented by product, indication, and geography.

Medical device companies pioneering in the gastric electrical stimulators market are Medtronic, Plc., IntraPace, Inc., ReShape Lifesciences, Inc., and Rishena Co., Ltd.

Key questions are answered in this report.

  • Which players are presently active in the gastric electrical stimulators market?
  • How is the market assessment performed? What are the different organic and inorganic growth strategies adopted?
  • What is the prevalence rate of gastroparesis and obesity, and what risk factors are associated with them?
  • How are high-frequency and low-frequency utilized for the treatment of gastroparesis?
  • What will be the market growth in Asia Pacific, Latin America, and MEA during the forecast period?

Frequetly Asked Questions:

The market for Gastric Electrical Stimulators Market is expected to reach US$ 192.2 Mn by 2027.

The Gastric Electrical Stimulators Market is expected to see significant CAGR growth over the coming years, at 6.7%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Medtronic, Plc., IntraPace, Inc.,Rishena Co., Ltd., ReShape Lifesciences, Inc. are some of the major players in the global market.

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Godaddy
Published Date:  Jul 2019
Category:  Medical Devices
Report ID:   59799
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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